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New York State Department of Labor

New York’s Economy Grows by 21,300 Jobs and Marks 18 Straight Months of Private Sector Job Growth

Private Sector Job Count Reaches New All-Time High in May

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Albany, NY (June 19, 2014) -

New York State’s private sector job count grew by 21,300, or 0.3 percent, in May 2014, according to preliminary figures released today by the New York State Department of Labor. This latest monthly employment gain raised New York State’s private sector job count to 7,568,600, a new all-time high. The state’s unemployment rate held steady at 6.7% in May 2014, remaining at its lowest level since December 2008.

Since the beginning of Governor Andrew M. Cuomo’s administration, the New York State economy has added 466,000 private sector jobs and experienced employment growth in 36 of the past 41 months. May also marked New York State’s 18th consecutive month with private sector job growth, the state’s longest streak on record, since at least 1990. New York State remains one of only 17 states that have regained all of the private sector jobs lost during the recession, according to the latest available statistics.

The state’s private sector job count is based on a payroll survey of 18,000 New York employers conducted by the U.S. Department of Labor’s Bureau of Labor Statistics. Monthly payroll employment estimates are preliminary and subject to revision as more information becomes available the following month. The federal government calculates New York’s unemployment rate partly based upon the results of the Current Population Survey, which contacts approximately 3,100 households in New York State each month.

“New York State’s economy continued to grow in May as it added 21,300 private sector jobs, reaching a new all-time high and outpacing job growth nationwide. This marked the 18th consecutive month of private sector employment gains. Our state’s jobless rate remained at 6.7%, its lowest level since late 2008,” said Bohdan M. Wynnyk, Deputy Director of the Division of Research and Statistics.

Note: Seasonally adjusted data are used to provide the most valid month-to-month comparison. Non-seasonally adjusted data are valuable in year-to-year comparisons of the same month; for example, May 2013 versus May 2014.

 

1) Jobs data (seasonally adjusted):

U.S. and New York State, April 2014 - May 2014

The table below compares the over-the-month change in total nonfarm and private sector jobs in the United States and New York State in April-May 2014.

Change in Total Nonfarm and Private Sector Jobs,
April 2014 – May 2014
  Change in
Total Nonfarm Jobs:

(private sector + government)
Change in
Private Sector Jobs:

Net
%
Net
%
United States +217,000 +0.2% +216,000 +0.2%
New York State +23,400 +0.3% +21,300 +0.3%

 

2) Unemployment rates (seasonally adjusted):

The state’s unemployment rate is calculated by the U.S. Bureau of Labor Statistics, using a statistical regression model that primarily uses the results of the Current Population Survey, which contacts approximately 3,100 households in New York State each month. The statewide rate remained constant at 6.7% in May 2014. The number of unemployed New Yorkers decreased over the month -- from 642,700 in April 2014 to 641,700 in May 2014.


Unemployment Rates (%)*
*Data are preliminary and subject to change, based on standard procedures outlined by the U.S. Bureau of Labor Statistics.
  May 2014* April 2014 May 2013
United States 6.3 6.3 7.5
New York State 6.7 6.7 7.8
New York City 7.9 7.9 8.8
NYS, outside NYC 5.7 5.8 7.0

 

3) Jobs data (not seasonally adjusted):

U.S., New York State, Major Regions, and Metro Areas: May 2013 - May 2014

The table that follows compares the over-the-year change in total nonfarm and private sector jobs that occurred in the United States, New York State, the Upstate and Downstate regions, and metro areas in the state between May 2013 and May 2014.


Change in Total Nonfarm and Private Sector Jobs, May 2013 – May 2014
  Change in
Total Nonfarm Jobs:

(private sector + government)
Change in
Private Sector Jobs:
 
Net
%
Net
%
United States +2,399,000 +1.8% +2,384,000 +2.1%
New York State +100,700 +1.1% +106,500 +1.4%
 
Downstate NY (10-co. area) +88,200 +1.5% +96,600 +1.9%
  New York City +75,000 +1.9% +77,700 +2.3%
  Suburban Counties +13,200 +0.7% +18,900 +1.2%
    Nassau-Suffolk +12,200 +0.9% +15,900 +1.5%
    Putnam-Rockland-Westchester +1,000 +0.2% +3,000 +0.6%
 
Upstate NY (52-co. area) +5,800 +0.2% +11,000 +0.4%
  Metro Areas +6,600 +0.3% +10,400 +0.5%
    Albany-Schenectady-Troy +1,500 +0.3% +2,700 +0.8%
    Binghamton -1,000 -0.9% -600 -0.7%
    Buffalo-Niagara Falls +3,600 +0.7% +3,000 +0.7%
    Elmira -600 -1.5% -400 -1.2%
    Glens Falls -500 -0.9% -300 -0.7%
    Ithaca -1,300 -1.8% -1,200 -2.0%
    Kingston +800 +1.3% +1,300 +2.9%
    Poughkeepsie-Newburgh-Middletown +3,500 +1.4% +4,300 +2.1%
    Rochester +3,400 +0.7% +3,900 +0.9%
    Syracuse -2,700 -0.9% -2,500 -1.0%
    Utica-Rome -100 -0.1% +200 +0.2%
Non-metro Counties -800 -0.1% +600 +0.1%

 

Job highlights since May 2013:

  • In the 10-county Downstate region, private sector jobs grew by 1.9% over the past year. Downstate’s private sector job growth was most rapid in New York City (+2.3%) and Nassau-Suffolk (+1.5%).
  • In the 52-county Upstate region, the private sector job count grew by 0.4% over the past year. Private sector job growth occurred in both the region’s metro areas (+0.5%) and in counties outside of metro areas (+0.1%).
  • Over the past year, private sector jobs grew most rapidly in these metro areas:
    • Kingston (+2.9%)
    • New York City (+2.3%)
    • Poughkeepsie-Newburgh-Middletown (+2.1%)
    • Nassau-Suffolk (+1.5%)
  • The Ithaca (-2.0%), Elmira (-1.2%), Syracuse (-1.0%), Binghamton (-0.7%), and Glens Falls (-0.7%) metro areas lost private sector jobs between May 2013 and May 2014.

4) Jobs data (not seasonally adjusted):

Change in jobs by major industry sector, May 2013 – May 2014

The table below compares the over-the-year change in jobs by major industry sector in New York State occurring between May 2013 and May 2014.

Change in Jobs by Major Industry Sector,
May 2013 - May 2014

*Educational and health services is in the private sector.
Government includes public education and public health services.
Sectors With Job Gains:
Educational & Health Services* +36,300
Professional & Business Services +30,100
Trade, Transportation & Utilities +23,200
Leisure & Hospitality +15,900
Construction +9,100
Other Services +4,000
 
Sectors With Job Losses:
Manufacturing -7,700
Government* -5,800
Financial Activities -3,200
Information -1,200

 

Highlights among NYS sectors with job gains since May 2013:

  • Private educational and health services added the most jobs (+36,300) of any major industry sector over the past year. Sector employment gains were centered in health care and social assistance (+30,500), especially ambulatory health care services (+20,100).
  • Professional and business services had the second largest increase in jobs (+30,100) between May 2013 and May 2014. Over the past year, sector job gains were mostly in professional, scientific and technical services (+16,800) and administrative and support services (+12,300).
  • The third largest employment increase over the past year was registered in trade, transportation and utilities (+23,200), with sector gains focused in retail trade (+16,300).

Highlights among NYS sectors with job losses since May 2013:

  • Over the past year, manufacturing lost more jobs (-7,700) than any other major industry sector. Manufacturing employment losses between May 2013 and May 2014 were split between durable goods (-4,100) and nondurable goods (-3,600).
  • Between May 2013 and May 2014, government sector job losses (-5,800) were greatest at the local level (-3,100).

 

5) Regular Unemployment Insurance (UI):

For New York State, during the week that included May 12, 2014, there were 145,324 people (including 133,309 who live in the state) who received benefits under the regular Unemployment Insurance (UI) program.

New York State residents who received Unemployment Insurance benefits made up 21% of the total unemployed in the state in May 2014.

We encourage people to use the Department's online Unemployment Insurance calculator to estimate how many weeks of benefits they may receive. See the calculator on the State Department of Labor's website, or go here: http://www.labor.ny.gov/ui/claimantinfo/uibenefitscalculator.shtm

Note: The responsibility for the production of monthly estimates of state and metro area nonfarm employment by industry moved from the Division of Research and Statistics to the U.S. Bureau of Labor Statistics (BLS), starting with the March 2011 estimates. More detailed information on the change is available on the BLS web site.

Many economic data series have a seasonal pattern, which means they tend to occur at the same time each year (e.g., retail jobs usually increase in December). Seasonal adjustment is the process of removing seasonal effects from a data series. This is done to simplify the data so that they may be more easily interpreted and help to reveal true underlying trends. Seasonal adjustment permits comparisons of data from one month to data from any other month.

Labor force statistics, including the unemployment rate, for New York and every other state are based on statistical regression models specified by the U. S. Bureau of Labor Statistics. In New York State, payroll jobs data by industry come from a monthly survey of 18,000 business establishments. Jobs data by industry do not include agricultural workers, the self-employed, unpaid family workers, or domestic workers in private households.

 

See State and Area Job Data (opens in new window)
See Labor Market Overview (opens in new window)
See Jobs and Unemployment Fact Sheet (opens in new window)

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